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NEW DELHI: Shares of Sun Pharma jumped 4 per cent on BSE in early trade on Wednesday, a day after it reported a nearly fourfold jump in profit at Rs 1,241.85 crore for the December quarter, beating Rs 981 crore net estimated by analysts in an ET Now poll.

The company had reported Rs 321.57 crore profit in the same quarter last year.

Several brokerages have faith in the stock while adding that progress in the speciality sector and the resolution of corporate governance issues remain key monitorable.

Global brokerage CLSA has maintained 'Buy' call on the stock with a target price of Rs 560 per share, terming the December quarter numbers as good despite adjustments. The brokerage said Sun Pharma's current valuation is attractive.

Global financial firm Citi has maintained a 'Buy' call on the stock with a target price at Rs 540 per share while highlighting that progress in speciality is key to stock performance.

Credit Suisse has maintained 'Outperform' view on the stock but cut the target price to Rs 515 from Rs 630 per share.

Motilal Oswal Securities has a 'Buy' call on the stock with a target price of Rs 540. "We remain positive on the company’s business model, which focuses on building a speciality portfolio in the regulated market and increasing traction in US generics, among others," the brokerage said.